GOLD OIL, the London-based oil exploration company focused on the South American and Caribbean region, announces that in late December 2005, the Company received an Operator Certificate from PeruPetro that allows the Company to carry out seismic, drilling and development operations in Northwest Peru.
The Promotion Licence signed with PeruPetro on October 15, 2004 with PeruPetro for Block XI (now renamed Block XXI) onshore Sechura Basin has been converted to an Exploration and Production Licence. The Licence now goes to the Ministry of Energy and Mines for approval, which could be forthcoming anytime between February and May of this year 2006.
The terms of the E&P Licence commit the Company to either shoot 120 km of 2D seismic or drill a well in the first period of five over a seven year term. The remaining four periods require the Company to either drill a well or drop the acreage. The Licence is for a term of 30 years for oil and 40 years for gas, with a minimum royalty of 5% on wellhead production for the first 5000bopd (30 MMscfd for gas) rising to 20% if and when production reaches 100,000 bopd (600 MMscfd for gas).

Times Article:
Gold Oil is valued in the market at about �15m. That is so small that almost any good news must have a big impact on the share price.
What are the chances of that happening? Run by a former Burmah Oil director, Mike Burchell, Gold Oil will drill the first in a series of wells in the Sechura Basin in April. There will be surprise if it does not find gas, as another company, Olympic, has done just that in a similar formation nearby.
The secondary target, later in the year, will be oil, I gather. A couple of months ago, Petro Tech made a big oil find offshore in the Sechura Basin. The theory is the oil may have migrated up into Gold Oil�s block. Don�t ask me to explain the geology because I don�t speak Palaeozoic. But a decent oil find here would be a company-maker.
Gold Oil has enough cash to fund this year�s drilling programme. And it already has a deal in place to sell its gas to Mann Ferrostaal, a German company that is building an ammonia plant nearby. Getting all that for �15m seemed a bargain to me. But Gold Oil still has to find its gas.

GOLD OIL http://www.goldoilplc.com/index.html

Plectrum Web Site
http://www.plectrum.co.uk/splash_content.html

Wall Street Reporter Interview
http://www.wallstreetreporter.com/interview.php?id=17724&player=real
Growth Equities & Company Research Nov 2007
http://www.goldoilplc.com/docum/gecr_09Nov07_GoldOil_full.pdf
Gold Oil's Presentation On The 10/12/2007
http://www.proactiveinvestors.co.uk/pdf
Research Page Last updated Oct 23 2008
http://www.moneyam.com/InvestorsRoom/posts.php?tid=10572#lastread
6 AUG 2009 Operational and Reserves & Resources Update Colombia & Peru
http://moneyam.uk-wire.com/cgi-bin/articles/20090806084900H3062.html

Have to say it Cynic but I agree, all the same with play suspended we're powerless to do anything about it.

cynic- dont forget who we are dealing with. im optmistic on this. i could be wrong of course.

(full report on website).

"with whom we are dealing" .... i optimistically hope that you will learn some grammar, albeit rather late in life ..... lol!

you need to get out more cynic!.

read the report with your cocoa.

you should have listened to your english teacher! .... lol

gold oil back on the market again

sp up a bit, but cannto see that the announcement was good news

cynic -LOL!

another 2.6m in cash (sterling) and Cuba without Mnt. dreadful that.

English teacher Mr C... (cannot) ;-)

I believe it to be good news.

the market likes this news - the sp is on the way up.

janet,looks like you spoke too soon,i guess the sellers could well be the buyesr just before suspension,taking a 25% profit.

whatever the short term reaction this is excellent news for gold oil imo.

Looks good to me.

bewildered as to why this is good news for GOO, but should i complain?

id rather common sense than use of grammar!.

do you have either? .... lol!
anyway, tell me why this rns was good news for GOO

oh dear! LOL.

So the basic line is, we got rid of Minmet got money in the bank and have exploration interests in Cuba and Latin America to add to are war chest and are also going to expand production in the Nancy-Burdine-Maxine block with four or five re-entries planned for later this year. I can’t see why you are bewildered here cynic this sp is looking good for the rest of this year and for the future.

Imo, it's as broad as it's long; If GOO have a partener to progress their exploration, then they will also have to share profits. No partener means GOO get all the profit, but they are also exposed to all the risk should the exploration fail.

driver .... if that is the case, then why all the discussions with Minmet in the first place?